Lemon Tree Hotels soars on signing new hotel in Jabalpur

Lemon Tree Hotels is currently trading at Rs. 79.25, up by 2.85 points or 3.73% from its previous closing of Rs. 76.40 on the BSE.

lemon tree hotels rises on opening 142 room hotel in kolkata
Lemon Tree Hotels

The scrip opened at Rs. 77.55 and has touched a high and low of Rs. 79.35 and Rs. 77.55 respectively. So far 84623 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 103.30 on 01-Dec-2022 and a 52 week low of Rs. 45.30 on 24-Feb-2022.

Last one week high and low of the scrip stood at Rs. 79.50 and Rs. 71.95 respectively. The current market cap of the company is Rs. 6052.76 crore.

The promoters holding in the company stood at 23.61%, while Institutions and Non-Institutions held 36.94% and 39.45% respectively.

Lemon Tree Hotels has signed a new hotel in Jabalpur, Madhya Pradesh. The property is expected to be operational by June 2024 and shall be managed by Carnation Hotels, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels.

This property will feature 75 well-appointed rooms, a restaurant, a club, a bar, a banquet, a gym and other public areas.

Guests can enjoy an invigorating round of squash, plays billiards, tee off on the golf simulator or relax at the spa.

The Jabalpur Airport is about 16 kms from the property while the Railway Station is nearly 2 kms away. The property is connected by both public and private transport to all the major cities in India.

Jabalpur, on the banks of river Narmada, is an important administrative, industrial and business centre of Madhya Pradesh. It is situated in the ‘Mahakaushal’ region and gets its name from ‘Jabali Rishi’ who, it is said, meditated on the banks of the river.

Jabalpur is a city of growing commercial importance, though it is more renowned for its scenic charms, in particular the magnificent Marble Rocksat Bhedaghat which are a hundred feet tall and change colour according to the light shone on them.

Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms.

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